Bank Pictet & Cie Europe AG Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bank Pictet & Cie Europe AG grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,182 shares of the financial services provider’s stock after purchasing an additional 1,229 shares during the period. JPMorgan Chase & Co. makes up 1.0% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 26th biggest holding. Bank Pictet & Cie Europe AG’s holdings in JPMorgan Chase & Co. were worth $46,068,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JPM. Rappaport Reiches Capital Management LLC raised its stake in JPMorgan Chase & Co. by 3.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after buying an additional 39 shares in the last quarter. Yoder Wealth Management Inc. raised its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after buying an additional 39 shares in the last quarter. Almanack Investment Partners LLC. raised its stake in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 39 shares in the last quarter. Powers Advisory Group LLC raised its stake in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock worth $1,470,000 after buying an additional 42 shares in the last quarter. Finally, Financial Avengers Inc. raised its stake in JPMorgan Chase & Co. by 5.2% in the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after buying an additional 43 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 1.0 %

NYSE:JPM opened at $264.14 on Monday. The company’s 50 day moving average price is $256.12 and its 200-day moving average price is $235.45. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $738.56 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.83 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $251.78.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.